Changes Coming to Flex Accounts

Changes Coming to Flex Accounts

Those of you who take part in a flex plan or an HSA for reimbursement of medical expenses will want to take note: starting in 2011, you will no longer be able to claim reimbursements for purchases of non-prescription, over-the-counter medicines. You’ll only be able to claim reimbursements for medicines purchased with a prescription. The only exception to this will be purchases of insulin.

This does not apply to “non-medicine” purchases relating to your health, such as crutches or bandages. You can still be reimbursed for those purchases.

This change affects flex plans, HSAs and Archer MSAs and goes into effect January 1, 2011. The change comes as part of the health-care reform bill passed earlier this year.

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